AAC Technologies (2018.HK): nijhaa Asia CL test (do not touch)
| 2018.HK | 12m Price Target: HK$20.00 | Price: HK$27.40 | Downside: 27.0% |
| Market cap: HK$67.3bn / $8.6bn |
| Enterprise value: HK$65.3bn / $8.3bn |
| 3m ADTV: HK$120.1mn / $15.4mn |
| China |
| Taiwan Technology Hardware |
| M&A Rank: 1 |
| Leases incl. in net debt & EV?: No |
GS Forecast
| 12/12 | 12/13E | 12/14E | 12/15E | |
|---|---|---|---|---|
| Revenue (Rmb mn) | 6,282.9 | 8,322.4 | 10,684.2 | 12,531.5 |
| EBITDA (Rmb mn) | 2,191.9 | 2,896.5 | 3,691.7 | 4,301.5 |
| EPS (Rmb) | 0.72 | 12.00 | 13.00 | 14.00 |
| P/E (X) | NM | NM | NM | NM |
| P/B (X) | NM | NM | NM | NM |
| Dividend yield (%) | NM | NM | NM | NM |
| N debt/EBITDA (ex lease,X) | (0.1) | (0.6) | (0.5) | (0.8) |
| CROCI (%) | 34.5 | 31.4 | 46.1 | 64.6 |
| FCF yield (%) | -- | -- | -- | -- |
| 12/12 | 3/13E | 6/13E | 9/13E | |
| EPS (Rmb) | -- | -- | -- | -- |
Source: Company data, Goldman Sachs Research estimates, FactSet. Price as of 13 May 2024 close.
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